The Legal 500 > Europe, Middle East & Africa > Iceland > Banking, finance and capital markets

Following its merger in late 2019, the newly incorporated BBA//Fjeldco fields a broad banking, finance and capital markets team which leverages offices in Iceland, England, France and New York to act for a range of international clients including major investment banks. The group's banking and finance work encompasses cross-border debt issuances, financings and refinancing instructions, while recent capital markets mandates include private placements and major IPOs on Nasdaq OMX. Halldór Karl Halldórsson is a key name for noteworthy transactions: he recently advised Arion Bank on its ISK49bn private placement, which was the first private placement by a large financial institution followed by a public offering of shares. Bjarki Diego's recent work includes assisting Asian Development Bank with its $250m loan to Arctic Green Energy and Sinipec Green Energy Geothermal Company to finance a major project in China. Dual-qualified (Iceland and New York) Ásgeir Ragnarsson has a wealth of experience in M&A, project financing and various commercial and company law matters. Gunnar Thor Thorainsson, who is qualified to practice in Iceland and England, is recognised for advising international investors engaged in Iceland and domestic investors exploring commercial opportunities abroad.

Lex Law Offices' banking, finance and capital markets practice acts for underwriters, issuers and investors in bond issuances, major IPOs, financing and refinancing mandates, and contentious matters relating to tort liability and shareholders' disputes, where it acts for banks. Practice head Ólafur Haraldsson and Guðmundur Ingvi Sigurðsson are the key names to note in the practice. Recent work highlights include acting for Morgan Stanley International as underwriter on the €1.5bn IPO of Arion Bank and advising Barclays Bank as joint lead managers on the Republic of Ireland's €500m debt issuance.

With offices in Reykjavik and London, LOGOS' 'impressive team of lawyers' stands out for its strength assisting international and domestic banks and companies with cross-border IPOs, secondary listings and private placements. The group additionally handles divestment and funding mandates in Iceland for corporates and investment companies. In a significant recent instruction, practice head Thórólfur Jónsson advised Arion Bank on its issuance of shares on Nasdaq Iceland and Nasdaq Stockholm, representing one of the largest share offerings ever recorded in Iceland. Group co-head Guðbjörg Helga Hjartardóttir is also a key name to note.

The banking, finance and capital markets team at ADVEL Attorneys at Law, which is led by Kristinn Hallgrímsson, handles contentious and transactional matters including loan agreements, debt issuances, refinancing work, regulatory matters and bankruptcy disputes. Recent key work includes Dóra Sif Tynes acting for Arion Bank on its NOK500m bond issuance on the Oslo Stock Exchange; Tynes recently returned to the practice after a period at the European Free Trade Association. Stefan Thor Ingimarsson is singled out for his expertise in domestic and cross-border financing transactions and restructuring agreements; he recently advised a large bank on a high-value foreign bond offering.

Juris' 'very competent and professional practice' has considerable expertise in contentious banking and finance matters arising from the 2008 financial crash, recovery proceedings and claims for damages, alongside a strong track record in domestic and cross-border project financing mandates in the telecoms, energy and infrastructure sectors. Dual-qualified partner Simon Knight, who is noted for being 'diligent and meticulous', is very active in multi-jurisdictional mandates and recently acted for Sunnuvellir on its $900m investment in Silicor's development of a solar silicon plant in Iceland. Halldór Jónsson, Andri Árnason and Sigurbjörn Magnússon jointly lead the department.

Primarily acting for issuers, Lagahvoll's banking, finance and capital markets expertise spans financing work, bond issuances and contentious matters including shareholder disputes; the group is also involved in funding rounds for Icelandic start-ups. Practice co-head Jóhann Tómas Sigurðsson, who is qualified in Iceland and New York, recently advised a social housing company as issuer on a $500m bond issuance, which will be the first issuance by a domestic issuer of a social bond under the ICMA Social Bond Principles 2019 guidelines. Fellow co-head Daði Bjarnason is also a key name to note.